Klaviyo (NYSE:KVYO) Shares Gap Down After Earnings Miss

Klaviyo, Inc. (NYSE:KVYO)’s share price gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $47.00, but opened at $43.38. Klaviyo shares last traded at $42.24, with a volume of 1,033,731 shares.

The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.12). Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.90%. The business had revenue of $270.16 million for the quarter, compared to the consensus estimate of $257.24 million.

Wall Street Analyst Weigh In

KVYO has been the topic of several recent analyst reports. Robert W. Baird lifted their price objective on Klaviyo from $52.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday. Benchmark lifted their target price on Klaviyo from $40.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday. Scotiabank lifted their target price on Klaviyo from $35.00 to $45.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 29th. Barclays lifted their target price on Klaviyo from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Macquarie reissued a “neutral” rating and issued a $36.00 target price on shares of Klaviyo in a research report on Friday, November 8th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.44.

Insider Buying and Selling

In related news, insider Landon Edmond sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $41.80, for a total transaction of $1,672,000.00. Following the transaction, the insider now directly owns 298,607 shares of the company’s stock, valued at approximately $12,481,772.60. The trade was a 11.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amanda Whalen sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $45.85, for a total value of $687,750.00. Following the transaction, the chief financial officer now directly owns 376,820 shares in the company, valued at $17,277,197. The trade was a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 114,536 shares of company stock valued at $4,720,953. 53.24% of the stock is owned by insiders.

Institutional Trading of Klaviyo

Institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its stake in Klaviyo by 145.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after purchasing an additional 808 shares during the period. CIBC Private Wealth Group LLC boosted its stake in Klaviyo by 169.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock valued at $72,000 after purchasing an additional 1,102 shares during the period. Tower Research Capital LLC TRC boosted its stake in Klaviyo by 77.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company’s stock valued at $77,000 after purchasing an additional 818 shares during the period. SBI Securities Co. Ltd. bought a new stake in Klaviyo in the 4th quarter valued at $196,000. Finally, US Bancorp DE bought a new stake in Klaviyo in the 4th quarter valued at $199,000. 45.43% of the stock is currently owned by institutional investors.

Klaviyo Trading Down 5.6 %

The company has a 50 day moving average of $43.72 and a 200-day moving average of $37.92. The firm has a market capitalization of $11.27 billion, a P/E ratio of -232.14 and a beta of 0.60.

Klaviyo Company Profile

Klaviyo, Inc, a technology company, provides a software-as-a-service platform in the United States, other Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company offers Klaviyo, a cloud-native platform for data store, segmentation engine, campaigns and flows, and messaging infrastructure.